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The hidden message in Rupert Murdoch’s latest manoeuvre

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Original article by John McDuling
The Age – Page: Online : 18-Oct-22

Rupert Murdoch’s proposal to reunify News Corp and Fox Corp is worthy of scrutiny. Both companies have changed significantly since being split in 2013. News Corp now derives the bulk of its revenue from digital real estate advertising rather than newspapers; likewise, Fox Corp’s focus has shifted to live news and sports after selling most of its entertainment assets to Disney. Combining the two companies makes some strategic sense, with the potential for greater cross-promotion across media platforms. Meanwhile, Barclays analysts have speculated that the reunification proposal may be aimed at preparing the companies for even more challenging economic conditions.

CORPORATES
NEWS CORPORATION – ASX NWS, FOX CORPORATION, BARCLAYS BANK PLC

October rate raise could be final straw for lower income spenders

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Original article by Emma Koehn
Brisbane Times – Page: Online : 4-Oct-22

Low-income households will come under further pressure if the Reserve Bank of Australia increases the cash rate by another 50 basis points on Tuesday. The latest quarterly consumer survey from UBS shows that low income earners have an "outright negative" financial outlook, although wealthy Australians are expected to keep spending. Australian Retailers Association CEO Paul Zahra notes that the full impact of the recent interest rate increases have yet to flow through the economy, adding that retail sales could soften in coming months.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN RETAILERS ASSOCIATION

Low TV crowd for all-Sydney decider

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Original article by Edmund Tadros
The Australian Financial Review – Page: 15 : 4-Oct-22

Ratings data from OzTAM shows that the National Rugby League grand final boasted a total audience of just 2.76 million viewers. This compares with 3.2 million in 2020 and 3.6 million in 2021, with COVID-19 restrictions boosting the audience in both years. The Nine Network’s coverage of the 2022 premiership decider had an average audience of 1.67 million metropolitan viewers, plus 696,000 viewers in regional areas; an additional 389,000 people watched the grand final on the 9Now app.

CORPORATES
NATIONAL RUGBY LEAGUE, NINE NETWORK AUSTRALIA LIMITED

Millions tune in to Queen’s farewell

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Original article by Sophie Elsworth
The Australian – Page: 9 : 21-Sep-22

Data from OzTAM shows that 3.897 million Australians watched the funeral of Queen Elizabeth II on free-to-air networks and Sky News Australia. The Seven Network’s coverage was watched by 975,000 viewers in metropolitan areas and 413,000 in regional areas, ahead of Nine with 879,000 viewers in capital cities and 223,000 in regional areas. Some 188,000 people watched the state funeral on Sky News. Meanwhile, the Ten Network relegated the funeral to a secondary channel, and just 185,000 people watched The Amazing Race Australia on its primary channel.

CORPORATES
OZTAM PTY LTD, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, SKY NEWS AUSTRALIA

Myer defies rates gloom, tips big Christmas

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 15 : 16-Sep-22

Department store chain Myer released its latest full-year results on 15 September, announcing an underlying net profit of $60.2 million, up 16.5 per cent. Bottom-line profit rose 5.7 per cent to $49 million, while full-year sales were up 12.5 per cent to $2.99 billion; a final dividend of $0.025 per share was declared, to be paid on 7 November. Myer CEO John King said the company was expecting strong trade over the Christmas period, although he expressed fears about the level of consumer confidence, particularly if the Reserve Bank lifts interest rates again at its October meeting.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, RESERVE BANK OF AUSTRALIA

Mineral Resources lifts lithium exposure amid spin-out chatter

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Original article by Stuart McKinnon
The West Australian – Page: Online : 16-Sep-22

Shares in Global Lithium Resources rose by 11 per cent to close at $2.93 on 14 September after it was revealed that Mineral Resources had lifted its stake in the company from 5.12 per cent to eight per cent. Global Lithium MD Ron Mitchell said that Mineral Resources’ move up its share register was a "vote of confidence in its Western Australian exploration assets", while speculation regarding the likelihood that Mineral Resources will spin-off its lithium assets via a US listing continues.

CORPORATES
GLOBAL LITHIUM RESOURCES LIMITED – ASX GL1, MINERAL RESOURCES LIMITED – ASX MIN

ABC criticised for massive coverage of Queen’s death

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Original article by George Hyde
The New Daily – Page: Online : 16-Sep-22

The ABC has defended its broadcast and online coverage of Queen Elizabeth II’s death, amid claims that it has been excessive. Former ABC broadcaster Quentin Dempster says that while there is strong residual regard for the Queen as Australia’s head of state, her death is not the top story at the moment; he argues that climate change is the biggest story, followed by the war in Ukraine and the potential threat of nuclear war. The ABC will have 29 employees in Britain for its coverage of the Queen’s funeral, although this includes two Europe-based correspondents who are also reporting on other stories.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Seven West optimistic of securing AFL rights

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Original article by Mark Di Stefano, Patrick Durkin
The Australian Financial Review – Page: 3 : 17-Aug-22

The Australian Football League was hoping to finalise its next broadcasting rights deal after the last round of the home-and-away season this weekend. However, insiders have suggested that the AFL will not rush a deal in order to secure the best outcome. The AFL Commission discussed the competing bids on Monday, and it hopes to sell the broadcasting and streaming rights for around $3bn. Incumbent free-to-air rights holder Seven West Media is confident that its deal will be renewed, with CEO James Warburton noting that it has a "very strong" relationship with the AFL.

CORPORATES
AUSTRALIAN FOOTBALL LEAGUE, SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED

Sports would be nuts to risk walking away: Foxtel CEO

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Original article by Max Mason, Mark Di Stefano
The Australian Financial Review – Page: 13 & 19 : 10-Aug-22

News Corporation has posted revenue of $US10.4bn for 2021-22, an increase of 11 per cent, while EBITDA rose 31 per cent to $US1.67bn. The Dow Jones financial news division’s EBITDA was up 30 per cent at $US433m, while the real estate services division’s EBITA rose 12 per cent to $US574m. News Corp Australia contributed $US109m to the media giant’s growth in profitability, while Foxtel’s total subscriber base rose to 4.5 million. Foxtel will seek to renew its AFL broadcasting rights deal, and CEO Patrick Delany says factors such as its audience reach and capacity to pay means that sporting bodies should not risk shifting their broadcasting rights to another company.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN FOOTBALL LEAGUE

‘No need’: Minister dumps Senate call for ownership probe

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Original article by Miranda Ward
The Australian Financial Review – Page: 29 : 27-Jun-22

A Senate committee in 2021 recommended holding a royal commission into media ownership. However, Communications Minister Michelle Rowland says the new federal government does not believes that such an inquiry is necessary, although she has stressed the need to closely monitor media concentration to ensure that communities continue to have adequate access to local news content. Rowland adds that issues such as the anti-siphoning list for sports broadcasts and ensuring that free-to-air channels are prominently displayed on smart TVs are among the government’s priorities.

CORPORATES
AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS